Common use of SERS PICK-UP Clause in Contracts

SERS PICK-UP. 23.01 The Board agrees with the Union to implement the SERS “pickup” utilizing the salary reduction method of contributions to the School Employees Retirement System paid upon the behalf of the Employees in the bargaining unit, at no cost to the Board, under the following terms and conditions: A. The amount of “pickup” on behalf of each Employee will be at the current SERS rate of the Employee’s gross annual compensation. The Employee’s annual compensation will be reduced at no cost to the Board by an amount equal to the amount of the “pickup” by the Board for the purpose of State and Federal tax only. B. The “pickup” percentage will apply uniformly to all members of the bargaining unit as a condition of employment. C. No Employee covered by this provision will have the option of electing a wage increase or other benefit in lieu of the employer “pickup”. D. Payment for all paid leaves, sick leave, personal leave, and severance, including Unemployment and Worker’s Compensation, shall be based on the Employee’s daily gross pay prior to reduction as basis (e.g., gross pay divided by the number of hours worked). 23.02 Each Employee will be responsible for compliance with the Internal Revenue Service’s Salary Exclusion Allowance Regulations with respect to the “pickup” in combination with other tax deferred compensation plans. 23.03 If the foregoing “pickup” provisions are nullified by subsequent Internal Revenue Service Rulings, Ohio Attorney General Opinions, or other governing regulations, the Board will be held harmless and this Article of the Agreement shall be declared null and void. The Board will then return to the former method of employer/employee retirement system contributions as soon as necessary.

SERS PICK-UP. 23.01 44.1 The Board agrees with the Union Association to implement the SERS “pickup” "pick-up" utilizing the salary reduction method of contributions to the School State Employees Retirement System effective July 1, 1985, paid upon the behalf of the Employees employees in the bargaining unit, at no cost to the Boardboard, under the following terms and conditions: A. The amount of “pickupto be "picked up” on behalf of each Employee will employee shall be at the current SERS rate of amount described as the Employee’s gross annual compensationemployee portion by the Ohio Revised Code Section 3309.47 and as established by the School Employees Retirement Board. The Employee’s annual compensation will shall be reduced reduced, at no cost to the Board Board, by an amount equal to the amount of the “pickup” "picked-up" by the Board for the purpose of State and Federal tax taxation only. B. The “pickup” percentage will pick-up percentages shall apply uniformly to all members of the bargaining unit as a condition of employment. C. No Employee employee covered by this provision will shall have the option of electing to elect a wage increase or other benefit in lieu of the employer “pickup”employ pick-up. D. Payment for all paid leaves, sick leave, personal leave, and severance, severance including Unemployment unemployment and Worker’s Compensation, Xxxxxxx'x Compensation shall be based on the Employee’s employee's daily gross pay prior to reduction as basis (e.g., e.g. gross pay divided by the number of hours worked). 23.02 44.2 Each Employee employee will be responsible for compliance with the Internal Revenue Service’s Salary Exclusion Allowance Regulations salary exclusion allowance regulations with respect to the “pickup” "pick-up" in combination with other tax deferred compensation plans. 23.03 44.3 If the foregoing “pickup” "pick-up" provisions are nullified by subsequent Internal Revenue Service Rulings, Ohio Attorney General Opinions, or other governing regulations, the Board will be held harmless and this Article of the Agreement shall be declared null and void. The Board will then shall return to the former method of employer/employee retirement system contributions as soon as necessary.

SERS PICK-UP. 23.01 31.1 The Board agrees with the Union Association to implement the SERS “pickup” "pick-up" utilizing the salary reduction method of contributions to the School State Employees Retirement System effective July 1, 1985, paid upon the behalf of the Employees employees in the bargaining unit, at no cost to the Board, under the following terms and conditions: A. The amount of “pickup” to be picked-up" on behalf of each Employee will employee shall be at the current SERS rate of amount described as the Employee’s gross annual compensationemployee portion by the Ohio Revised Code section 3309.47 and as established by the School Employees Retirement Board. The Employee’s annual compensation will shall be reduced reduced, at no cost to the Board Board, by an amount equal to the amount of the “pickup” "picked-up" by the Board for the purpose of State and Federal tax taxation only. B. The “pickup” percentage will pick-up percentages shall apply uniformly to all members of the bargaining unit as a condition of employment. C. No Employee employee covered by this provision will shall have the option of electing to elect a wage increase or other benefit in lieu of the employer “pickup”pick-up. D. Payment for all paid leaves, sick leave, personal leave, and severance, severance including Unemployment unemployment and Worker’s Compensation, Xxxxxxx'x Compensation shall be based on the Employee’s employee's daily gross pay prior to reduction as basis (e.g., e.g. gross pay divided by the number of hours worked). 23.02 31.2 Each Employee employee will be responsible for compliance with the Internal Revenue Service’s Salary Exclusion Allowance Regulations Service salary exclusion allowance regulations with respect to the “pickup” "pick-up" in combination with other tax deferred compensation plans. 23.03 31.3 If the foregoing “pickup” "pick-up" provisions are nullified by subsequent Internal Revenue Service Rulings, Ohio Attorney General Opinions, or other governing regulations, the Board will be held harmless and this Article of the Agreement shall be declared null and void. The Board will then shall return to the former method of employer/employee retirement system contributions as soon as necessary.